LampPost Planning

What are the next four years going to bring? History can provide some insights. Take gross domestic product (GDP), for example. It has fluctuated depending on who’s in the White House, but it has generally trended higher over the long term. The same can be said about inflation, as shown by the Personal Consumption Expenditure price index. That’s not to minimize the challenging inflation in recent years. But history can help put today’s higher prices in perspective. Historical data should not be considered a forecast. Financial, political, and regulatory issues may have an impact on economic data expressed in the table. #Election2024 #Vote #GDP #2024PresidentialElection #FinancialPlanning #LampPostPlanning

🍂 November: A month to reflect and give thanks! 🙏✨ ✨ Review your charitable giving and update any funding strategies. 💰 Watch for capital gains payouts—estimates will be out this month! 🏥 Open enrollment for Healthcare.gov is here! 📅 Medicare Part A and B premiums and deductibles are announced. https://lnkd.in/gYNaEXxf #ThankfulNovember #FinancialWellness #HealthCareUpdates #November #PersonalFinanceCalendar #FinancialPlanning #LampPostPlanning

Looking ahead to 2025: Social Security projections are in! ▪️The Senior Citizens League forecasts a 2.5% cost-of-living adjustment (COLA) for Social Security benefits in 2025. ▪️This potential increase would mean an average monthly bump of about $48 for recipients. ▪️While lower than in recent years, it's close to the 20-year average of 2.6%. Remember, these projections aren't set in stone. The official announcement typically comes in mid-October. It's always wise to stay informed about potential changes to Social Security, as they can impact long-term financial strategies. Understanding these trends can help you make more informed decisions whether you're nearing retirement or years away. https://lnkd.in/gGVTQPMb #SocialSecurity #RetirementStrategy #FinancialFuture #2025 #2025Forecasts #FinancialPlanning #LampPostPlanning

Recency bias can significantly impact investment decisions! 📈📉 It’s the tendency to be swayed by recent news or experiences—like a big market up or down year—rather than considering long-term trends. 🕰️ This can lead to impulsive choices that might not align with your overall strategy. Staying focused on your investment goals and maintaining a balanced perspective is key to navigating the market successfully. Don’t let the noise of the moment dictate your future! #RecencyBias #InvestmentStrategy #LongTermThinking #Bias #Investing #FinancialPlanning #lamppostplanning

Investment Challenges of the Affluent Investor 🌟 High net-worth investors face unique challenges that come with substantial wealth. While the fundamental principles of investing apply to everyone, affluent investors must be aware of specific issues that can impact their financial future. Let’s dive into a few key challenges: 🔍 Being Too Conservative: With more assets than they anticipate needing, some investors may lean towards conservative strategies. This can lead to lower long-term returns, potentially affecting charitable bequests and wealth transfer to future generations. 🎨 Collectibles: Investing in passions is common among the affluent, but neglecting to keep appraisals up-to-date can create issues with estate liquidity and taxes. 📈 Concentrated Equity: Senior executives often hold significant stock in their companies, presenting unique risks that need careful management. 🛠️ DIY Mentality: Success in one’s career can foster the belief that managing wealth is similarly straightforward. However, wealth management requires a different skill set and expertise. 🤝 Too Many Professionals: Relying on multiple investment professionals can complicate matters. Without a cohesive strategy, essential needs like risk management and tax efficiency may be overlooked. As wealth increases, so do the complexities. Affluent investors are encouraged to seek professional guidance tailored to their unique circumstances to navigate these challenges effectively. https://lnkd.in/gSqb57vK #WealthManagement #AffluentInvestors #FinancialPlanning #InvestmentChallenges #Investing #LampPostPlanning

Interesting news on the economic front: U.S. household incomes are bouncing back. 💪 The typical American family saw a 4% increase in earnings in 2023, bringing the median household income to $80,610—on par with pre-pandemic levels! What's driving this rebound? ✅ Easing inflation: Prices are rising more slowly, helping your money go further ✅ Wage growth: Paychecks have been growing faster than prices since May 2023 ✅ Job market recovery: More employment opportunities are opening up ✅ Consumer confidence: People are feeling more optimistic about spending This uptick could signal more substantial consumer spending power. How has your household budget changed over the past year? Have you noticed any improvements in your purchasing power? https://lnkd.in/eDyPR-35 #EconomicRecovery #FinancialWellness #IncomeGrowth #FinancialPlanning #LampPostPlanning

Did you know that only 32% of Americans have a will in place? 📝 Are you one of them? Or are you missing a cornerstone of your estate strategy? Having a will is crucial for ensuring your wishes are honored and protecting your loved ones. Don’t leave your legacy to chance—take the steps necessary to create or update your will today! 💼✨ #EstatePlanning #Wills #ProtectYourLegacy #FinancialWellness #FinancialPlanning #LampPostPlanning

🔍 How to Appeal Your Property Taxes 💰 Did you know that between 30% and 60% of taxable properties are assessed too high, leading to inflated tax bills? Yet, fewer than 5% of homeowners dispute their assessments! If you suspect your property has been overvalued, it’s time to take action and potentially save hundreds or even thousands in taxes each year. 🏡✨ Here are some steps to consider: Assess Justification: Gather facts to support your claim by comparing your home to similar properties in your area. Look for any obvious errors, like incorrect square footage! Weigh the Cost-Benefit: Determine if the potential savings are worth the costs involved in appealing. Don’t spend more than you might save! Use an Independent Appraiser: A credible third-party appraisal carries more weight than one from a local agent, giving your appeal a stronger foundation. Follow the Rules: Make sure to familiarize yourself with the appeal process and deadlines to avoid missing your chance. Taking the time to appeal can lead to significant savings—don’t miss out on this opportunity! 💪✨ https://lnkd.in/gUgJ4F7z #PropertyTax #HomeownerTips #TaxSavings #AppealYourAssessment #Homeownership #FinancialPlanning #LampPostPlanning

🚀 Space enthusiasts, get ready! NASA's Europa Clipper mission is cleared for an October launch. This $5 billion venture is set to explore Jupiter's moon Europa, potentially unlocking secrets about extraterrestrial life. Imagine a spacecraft journeying for 6 years, then executing 49 flybys of a distant moon! That's precisely what the Europa Clipper will do. It'll map Europa's surface and probe its suspected underground ocean. Talk about pushing boundaries! 🛰️🌊This mission reminds us that human curiosity and innovation continue to thrive even in uncertain times. What cosmic mysteries fascinate you most? Let's ponder the wonders of our universe together! #SpaceExploration #NASA #EuropaClipper #InnovationNeverStops #LampPostPlanning #CurrentEvents https://lnkd.in/gYencAX3

5 Benefits of Working in Retirement! 🌟 Retirement isn’t just an ending—it’s a new beginning! As the Boomer generation ages, more people are embracing work in fresh, rewarding ways. Here’s why working during retirement can be a game-changer: 🧠 Mental Benefits: Staying engaged helps maintain mental agility and boosts happiness. Learning new skills keeps your mind sharp! 💪 Physical Benefits: Keeping active is essential for health. Whether it’s a full-time job or volunteering, work keeps you moving and strong. 💰 Financial Benefits: Extra income is great, but delaying Social Security can increase your benefits by 8% each year you wait! A smart strategy pays off. ❤️ Emotional Benefits: A sense of purpose can lead to a longer, more fulfilling life. Working on what you love or mentoring others can ward off feelings of loneliness. 🤝 Social Benefits: Avoid the isolation that can come with retirement! Working with others fosters connections and meaningful interactions. Retirement is what you make it—embrace the opportunity! Learn more on our blog, link below! #RetirementBenefits #WorkAndPlay #HealthyAging #LifelongLearning #WorkingInRetirement #Retirement #FinancialPlanning #LampPostPlanning https://lnkd.in/gr_NHCJv